Greatest destroyer of wealth

Eike Batista lost 99% of his fortune

In 2012 Eike Batista was to be worth $34,5 billion and now it’s estimated that he is worth around $ 200 mill. So in one year loosing $34,3 billion – that’s a lot of money… (this is in worth not in cash). Read more at Bloomberg.

He is still rich though

Richest man in Brazil

He is an entrepreneur and business magnate from Brazil, who made his fortune in mining and later oil and gas industry. But he has been building many companies through his life.

For a long time he has been the richest man in Brazil, and lots of people here are admiring him.

Living on a big lie?

It all went downhil when the market discovered that his announcements and estimations of oil productions in his companies, were found as fraud. Announcing huge oil productions (but only made 2% of it), announcing having license to big oil fields of the coast of Brazil but didn’t have really. So since 2008, when OGX went public, they have announced and publicated lots of wrong information – and cheated a lot of people to invest. And now as the truth reveils, its all coming down…

Will it stop here? I don’t think so.

O papa Francisco, The Pope is here !

The Pope is here!

He is for sure in Brazil and he is making a super good impression. Brazil is a big catholic country so no wonder why the country is making so much out of his visit.

It’s great.

He is a nice guy.

From interviews, pictures and live video footage he really seems like a very nice man, with some very nice messages. Compared to the last couple of popes he is very young at heart, and that is a relief (and I guess necessary for the catholic church to be updated – otherwise they will loose too many members).

Lack of security

The Pope decided himself to drive around in an open car, and to get very close to people. On both sides of the convoy with his car there were security people running. All controlled by Policia Federal. On one occasion the Policia Federal decided to change his path away from planned, with out telling the local police – lack of communication. This resulted in a caos as the cars in front of him had to stop, they were mixed in with busses and his car couldn’t move (and had open windows). So if you imagine several hundred thousand people wanted to get closer, and he can’t get away…. many people handing inside the car to him, trying to touch him… super risky.

How these security people are still employed today is a mistery.

Can you imagine if something would happen? what to do??

It wouldn’t happen to the American President

Yes, he is a total different security risk, but this would never ever happen to him. Where ever he goes or travel everything is timed and planned, and nothing becomes uncontrolable. They would always have a plan to get out of the situation.

I was at Copenhagen Airport when Barack Obama visited Denmark, and the whole week before there were security people checking everything, bomb dogs sniffing around, 24 hours guards, seperate US army area and so much control everywhere.

Nothing would be misunderstood.

So I think it was unbelievable that there wasn’t somebody responsibly taking action on this. I hope they don’t have any misunderstanding towards the World Cup, Olympics or any other big events.

Believe or not to believe

As I am an atheist I believe all religions are very good stories, that have more “control of people” instead of reality – so I don’t believe in them. I don’t really care what other people believe in, it’s a private matter, and should be kept that way. I hate when people are trying to convience me of some religious way.

Anyway it’s awesome to see this great person influencing so many people in a positive way.

Petrobras - Weak earnings (or corruption scandal?)

Weak earnings in oil business

I am amazed.

As it says in this article – Weak earnings in Petrobras.

An oil producing company that has problem making money. OK…. This must be the first in the world. I am not only seeing a “lower than expected” earnings but the company having problems making money. There is a sentence I didn’t see coming.

I guess one cause is that it is state owned. Already there it flags too much administration and ineffectiveness. They are even being favorized by the government and still can’t make it.
This must be the perfect opportunity for consultants to make a turnaround, if the government dare to open the books. I don’t think so.
Too many people there gets too much money – and there you have the result.

Eike Batista - Rich or poor (or corrupt).

From super-rich to just really rich in 1 year…!

How can a man go from a net worth of USD 35bill and down to USD 3bill in just one year? Losing USD 32bill in one year…. crazy!

On top of this, two of his companies were spending USD 1bill in pure cash in the first three months.

Value in assets

Most of his value are in assets, shares in his companies. So when the stock price drops, so does his value (and net worth). Many things went wrong here.

Global crises, inflation in Brazil, lost his support among investors and mostly because everything was built upon future  expectations. When you can not live up to them then your support will leave.

Once he was no. 8 richest person in the world now not among the Top 200, according to Blomberg.

The big question remains – does it stop here or will he continue down ?

It's cold ??

Winther time

Waking up today, got the dogs and took them a walk, as usual.
But its cold and there is no sunshine?! WTF ?

Of course when its winther here in Brazil it should be colder, but still it felt like freezing …. brrr… I am used to enjoying the long warm evenings, even after the sun has set, so these days are so bad.
And of course I have got a cold, coughing constantly – amazing when its 27 degrees during the day.

Always dark in Denmark

The one thing I hate the most in Denmark is the winther. I was even used to driving to work at 8 am in darkness and leaving work at 17 in darkness – the only light or sunshine was through the office windows. That was really bad. The mood was even a few steps lower than normal, in average.

So moving to Brazil its so nice to have sunshine and daylight every day – and then today with this cold…..  damn.

Luckily these days will not last long, soon we are gonna have spring and warm nights again – can’t wait !